Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Europe open: Shares on the rise ahead of expected ECB rate cut
(Sharecast News) - European shares started Thursday in bright mood with all eyes were on the European Central Bank for a widely-expected cut in interest rates from record highs.
The pan-regional Stoxx 600 index was up 0.61% at 524.40, and eyeing fresh records. All major bourses on the continent followed suit.
A cut from the ECB would be the first in almost five years. Traders will be looking for any comments from the central bank on the future trajectory of policy given last Friday's unexpected rise in consumer prices.
The Bank of Canada on Wednesday became the first in the G7 to do so, and markets are also increasing bets on cuts from the US Federal Reserve this year.
"The likelihood of the Fed lowering borrowing costs in September is now at 69%, following weaker jobs data, which has helped the price of Brent crude rise above $79. That said, the price remains subdued overall, as demand concerns related to slowing economies remain front and centre," said Hargreaves Lansdown analyst Sophie Lund Yates.
US stocks surged overnight, driven by tech giant Nvidia as passed a market capitalisation of more than $3trln, surpassing Apple to be second to Microsoft.
In economic news, eurozone construction activity remained in a steep slump during May, according to the latest PMI survey data, as new orders continued to fall sharply. The downturn led to the quickest drop in construction jobs in four years, while purchases and subcontractor use also decreased markedly.
The HCOB eurozone construction PMI total activity index stayed well below the 50.0 no-change threshold in May, indicating a marked contraction in output across the euro area construction sector. At 42.9, the index was up slightly from 41.9 in April, but was still one of its lowest readings in the past 11 years.
In equity news, Danish pharmaceuticals giant Novo Nordisk jumped to a record high amid continued demand for its blockbuster Wegovy weight loss drugs.
Reporting by Frank Prenesti for Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
